The monthly fee and how to avoid it

Wells Fargo Everyday Checking charges a $10 monthly maintenance fee, but you can waive it by meeting one of three conditions: keeping a $500 minimum daily balance, setting up direct deposit of any amount, or maintaining an average daily balance of $1,500 during the statement period.

The direct deposit route is the easiest for most people because the amount does not matter — even a single $50 paycheck counts. If you receive regular paychecks, Social Security, or any other recurring deposit, you can link it to this account and the fee disappears. You do not need to wait for the deposit to clear; Wells Fargo waives the fee once direct deposit is set up.

If direct deposit is not an option for you, the $500 minimum balance is straightforward to track. You only need to maintain that balance on a single day during your statement period, not every day. The $1,500 average daily balance option requires more money sitting in the account over time, so it is usually the least practical of the three.

Key Takeaways

  • Wells Fargo Everyday Checking has a $10 monthly fee that you can waive by setting up direct deposit, keeping a $500 minimum daily balance, or maintaining a $1,500 average daily balance.
  • Direct deposit of any amount — including government benefits or payroll — counts toward waiving the fee and is the easiest method for most people.
  • Overdraft fees are $35 per transaction if you go negative, and Wells Fargo allows multiple overdrafts per day, so the fees can stack quickly.
  • ATM fees explore only when you use an out-of-network machine; Wells Fargo's own ATMs are free, and many other banks' ATMs in their network are also free.
  • Paper statements, wire transfers, and stop payments each carry separate fees if you use them, but these are optional services you control.

Overdraft fees and how they work

If your account balance goes negative, Wells Fargo charges $35 per overdraft transaction. This means if you make five purchases when you have insufficient funds, you could face $175 in overdraft fees in a single day. Wells Fargo processes transactions in a way that can maximize overdrafts, so a series of small purchases might each trigger a separate fee.

You can opt out of overdraft coverage entirely, which means transactions will straightforward be declined if you do not have funds. This prevents the fees but also means your debit card or check will not go through. Many people choose this route to avoid surprise fees.

Wells Fargo also offers overdraft protection, which links your checking account to a savings account or credit line. If you overdraft, money transfers automatically from the linked account to cover it. This service itself is free, but you may pay a transfer fee depending on which account you link.

ATM fees and out-of-network charges

Using a Wells Fargo ATM is free. The fee only applies when you withdraw cash from an ATM that does not belong to Wells Fargo — this is called an out-of-network ATM. Wells Fargo charges $2.50 per out-of-network withdrawal, and the ATM operator may charge an additional fee on top of that.

Wells Fargo is part of the MoneyPass network, which means you can use thousands of ATMs at other banks and credit unions without paying Wells Fargo's fee. Before opening the account, you can check the MoneyPass locator online to see if there are free ATMs near your home, work, or places you frequent.

If you travel frequently or live in an area with few Wells Fargo branches, the out-of-network fees can add up. In that case, you might want to compare this account to banks with larger ATM networks or online banks that reimburse out-of-network fees.

Wire transfers, paper statements, and other optional fees

Wells Fargo charges $15 for outgoing domestic wire transfers and $45 for international wires. These fees only explore if you actually send a wire; receiving money by wire is free. Most people do not send wires regularly, so this fee may never affect you.

If you request paper statements mailed to your address instead of viewing them online, Wells Fargo charges $2 per statement. Online statements are free, so this is an straightforward fee to avoid by staying digital.

A stop payment request — telling the bank to cancel a check you wrote — costs $35. This is useful if you lose a check or need to cancel a payment, but it is not a fee most people encounter regularly.

Comparing Everyday Checking to other Wells Fargo accounts

Wells Fargo offers other checking accounts with different fee structures. Wells Fargo Preferred Checking has a $15 monthly fee but waives it with a $2,500 minimum balance or direct deposit. It includes some additional perks like higher interest rates on linked savings accounts, but for most people the Everyday Checking account is the better choice because the fee is lower and easier to waive.

Wells Fargo also offers a student checking account with no monthly fee if you are under 25 and a checking account for customers 55 and older with no monthly fee. If you fit either category, those accounts eliminate the maintenance fee entirely.

If you cannot meet the direct deposit or balance requirements for Everyday Checking, you might want to explore online banks or credit unions in your area, which often have no monthly fees at all. The trade-off is usually fewer physical branches and ATMs, so weigh that against the fee savings.

How to set up direct deposit to waive the fee

To waive the $10 monthly fee through direct deposit, you need to provide your employer or benefits administrator with your Wells Fargo account number and routing number. Your account number appears on the bottom left of your checks, and the routing number for Wells Fargo is 121000248 (this is the same for all Wells Fargo customers).

Once you submit this information to your employer's payroll department or to Social Security, Medicare, or another benefits program, it typically takes one to two pay periods for the direct deposit to start. Wells Fargo waives the fee once the setup is complete, even if the first deposit has not arrived yet.

If you are self-employed or do not receive regular deposits, you can also set up a transfer from another account you control. Some people transfer a small amount from a savings account each month to trigger the direct deposit requirement, though this requires discipline to do consistently.

Frequently Asked Questions

What happens if I do not meet any of the fee waiver requirements?

You will be charged the $10 monthly maintenance fee. It will be deducted from your account balance on the last day of your statement period. If you cannot meet the requirements, you may want to explore other banks with no monthly fees or consider setting up a small recurring transfer to meet the direct deposit requirement.

Can I have multiple overdrafts in one day?

Yes. Wells Fargo can charge you $35 for each transaction that overdrafts your account, and multiple transactions can occur in a single day. If you make five purchases when your balance is low, you could face $175 in fees. Opting out of overdraft coverage prevents this by declining transactions instead.

Do I pay a fee to receive money by wire transfer?

No. Incoming wire transfers are free. You only pay the $45 fee if you send an international wire or the $15 fee if you send a domestic wire. Receiving money costs nothing.

Is there a fee to close my Everyday Checking account?

Wells Fargo does not charge a fee to close a checking account. You can close it anytime by visiting a branch, calling customer service, or using the mobile app. If you close the account within 90 days of opening it, Wells Fargo may flag it, but there is no explicit penalty.

What if I use my debit card at a store and it gets declined because I have no funds?

If you have opted out of overdraft coverage, the transaction will straightforward be declined and no fee will be charged. If you have overdraft coverage enabled, the transaction will go through and you will be charged a $35 overdraft fee. You control which option you prefer when you open the account or anytime afterward.